16. "*Financials would be provided on a best efforts basis for private companies"

17. Appendix

17.1. Abbreviations

17.2. Sources

17.3. Research Methodology

17.4. Bibliography

17.5. Compilation of Expert Insights

17.6. Disclaimer

The global anti-corrosion coatings Market is estimated to surpass $22.36 billion by 2023 growing at an estimated CAGR of more than 5% during 2018 to 2023. These coatings are in high demand as they help to reduce corrosion, protect the valuable assets, and increase the efficiency of the machines. APAC is dominating this market with a share of approximately 50% in 2017 and generating revenue $8.91 billion in in 2017. It is expected to grow at a CAGR of more than 6.43% to reach $12.17 billion by 2023 which is mainly attributed to the growing demand from the construction industry. Oil and Gas is the industry application with major revenues and volumes.

What is an Anti-corrosion coating?

Corrosion is the surface deterioration of metal/alloys within particular environment because of moisture, salt spray, oxidation or exposure to industrial chemicals. Anti-corrosion coatings prevent the corrosion of metals/alloys by acting as a barrier between the metals and the corrosive materials in contact. The coatings are highly useful for enhancing the sheet life, its usages and aesthetic value. These sheets are being utilized in various industries ranging from automotive, marine, oil & gas, industrial, power generation, and others.

What are the major applications for Coatings?

The various end users assessed include Oil & gas, automotive, aerospace, construction & infrastructure, marine, and energy & power. In marine industry, corrosion control is used to reduce or entirely eliminate sea water corrosion problems. Many destructive attacks can occur in the structure and other equipment of ships due to direct contact of these parts with saline sea water. Aqueous corrosion is the problem encountered after coming in contact with the sea water. Marine industry can also experience atmospheric corrosion due to exposure of metallic parts in the atmosphere containing reactive chemical compounds.

Automotive industry uses anti-corrosion paint technology as solution from rusting in various parts of the vehicle. These uniform anti-corrosion coatings provides effective base coat for paints, sealers, e-coat, and other topcoats above the metallic vehicle parts. These coatings can be used in fasteners, body hardware, door closure, and lock part.

Market Research and Market Trends of Anti-corrosion coatings

New technology has been developed where coatings can self-heal with the addition of reactive microcapsules into an epoxy-polyamine coating matrix. Microcapsules are synthesized to contain reactive core materials with self-healing character upon damage. The synthesized microcapsules are tuned to resist water or solvent, making them suitable for coatings and paints of underwater structures. This technology can be applied to solvent borne or water borne paint systems, especially for underwater and underground structures that need heavy duty corrosion protection.

Polyaspartics have been extensively used for coating steel to prevent corrosion but in recent times most of the manufacturers are promoting it as floor coatings, since it has low Volatile Organic Content, can raise solids levels and optimize the workability time. Concrete floors are well known for cracks and joints which present a unique problem to rigid epoxy floor systems, when continued movement either from thermal or load transfer factors cause reflective cracking in the polymer floor systems.

Growing demand for inert, cost efficient, environmental friendly and low friction coatings have resulted for the need of Polymer coatings due to its advantages like low density, anti-corrosion properties, self-lubricity, low cost and ease of processing. But limiting factors such as low load bearing capacity has resulted in the developments of polymer based Nano composite coatings to improve the tribological performance of the polymer coating

Hydrophobic materials and coatings have been used for decades. Now, material scientists are going beyond simple water repellency to include additional functionality for more specific applications. New advances in material science are making it feasible to create smart, functional coatings that combine hydrophobic properties with added functionality for specific industrial, consumer, medical or military applications. Functional coatings are made by introducing additives or manipulating the nanostructure or chemical composition of the coating itself in order to change the way the coating responds in the presence of specific stimuli. These stimuli-responsive materials are able to chemically or physically react to their environment in different ways like self-cleaning and can change their surface topography in response to light in order to modulate characteristics such as wettability or surface friction.

Who are the Major Players in Anti Corrosion Coatings Market?

The companies referred in the market research report include the 3M (US), BASF SE (Germany), Hempel Group (Europe), and Kansai Paint Co., Ltd (Japan), PPG Industries (US), The Dow Chemical Company (US), Wacker Chemie AG (Germany) and other companies

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Key Takeaways from this Report

Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.